This Surprising FDA Announcement Could Be Huge for Ocugen
Ocugen (NASDAQ: OCGN) has been one of the hottest, most volatile biotech stocks on the market of late; in October, the stock soared 65% while the S&P 500 rose by 7%. The problem is that often its price movement is related to speculation, not to developments that make the business a better or worse investment overall.
The company hasn't generated any meaningful revenue over the past year; investors are banking on the hope that the COVID-19 vaccine Ocugen is co-developing with Bharat Biotech will send the stock soaring. The good news: A recent decision by the Food and Drug Administration (FDA) could create a significant opportunity in the U.S. market, and a path for Ocugen to snag some significant market share if its vaccine gets the green light.
Source Fool.com
